Bulgaria has officially joined the eurozone and will adopt the euro as its national currency on January 1, 2026. The final step was completed today in Brussels, where the European Union’s Economic and Financial Affairs Council (ECOFIN) unanimously adopted the necessary legal acts, marking the formal end of the accession procedure. Prime Minister Rosen Zhelyazkov welcomed the development with a message on social media, declaring, “We succeeded! As of January 1, 2026, Bulgaria will officially adopt the euro.”

Добре дошла, България!

EU economy and finance ministers have approved #Bulgaria‘s entry into the euro area.

From 1 January 2026, ???????? will start using the euro and enjoy the benefits of joining the single currency.

More on how countries adopt the euro ➡️https://t.co/s3DZtOxvhs pic.twitter.com/Xw2aFezQf1


— EU Council (@EUCouncil) July 8, 2025

The ECOFIN Council endorsed three key legal instruments: a decision on Bulgaria’s adoption of the euro, an amendment to Regulation 974/98 on the euro’s introduction in Bulgaria, and another amendment to Regulation 2866/98 concerning the lev-to-euro exchange rate. With this, Bulgaria becomes the 21st member of the euro area and secures full access to the EU’s common currency. The fixed exchange rate was confirmed at 1 euro = 1.95583 leva – identical to the current rate under the Exchange Rate Mechanism (ERM II).

Today’s outcome follows a strong show of support in Strasbourg, where the European Parliament approved the accession report with 531 votes in favour, 69 against, and 79 abstentions. The document, authored by Bulgarian MEP Eva Maydell (GERB/EPP), outlined the country’s full alignment with EU legal requirements and financial criteria: inflation below the reference threshold, stable public finances, controlled deficit and debt levels, and a currency that has remained fixed within ERM II for over two years.

Finance Minister Temenuzhka Petkova confirmed the rate and stated that all necessary technical and institutional preparations will now accelerate to ensure a smooth transition. She expressed confidence in unanimous support from her EU counterparts. European Commissioner for Economy Valdis Dombrovskis emphasized that euro adoption represents more than a currency change – it signals a deeper economic integration and a promise of greater prosperity.

Danish Economy Minister Stephanie Lose, who chaired the ECOFIN meeting, noted that this achievement follows “rigorous analysis and intensive preparation” and congratulated Bulgaria on reaching this historic milestone.

The legal texts are expected to be published in the Official Journal of the European Union within days. Later today, Finance Minister Petkova is scheduled to address the media. An official ceremony will mark Bulgaria’s entry into the eurozone, capping off a multi-year process and ushering in a new economic chapter for the country.